Greece’s IPTO partners with Saudi company on fibre optic corridor via Crete
Grid Telecom, a wholly-owned subsidiary of Greece’s Independent Power Transmission Operator (IPTO), and Dawiyat Integrated, a telecommunications arm of Saudi Electricity Company (SEC), this week signed a Memorandum of Understanding (MoU) for the construction of a new fibre optic cable system linking Greece to Saudi Arabia.
According to an official announcement, this partnership aligns seamlessly with the strategic aims of both companies to expand their international networks.
It also sets the stage for potential collaborations in emerging business areas, such as the development of hyperscale-ready data centres for hyperscale providers. This initiative is expected to enhance data transfer capabilities across continents.
The digital corridor, which will connect Saudi Arabia and Greece via Crete, is projected to extend westwards to major European destinations and eastwards across the Arabian Peninsula.
Manos Manousakis, President and CEO of IPTO, said that “IPTO is expanding its strategic partnership with Saudi Electricity Company in the field of telecommunications”.
“The agreement between Grid Telecom and Dawiyat Integrated will add a new ultra-high-speed telecommunications ‘bridge’ for data transmission in the Eastern Mediterranean, thus contributing to the digital convergence of the wider region,” he added.
He continued by saying that “combined with the joint plans of IPTO and National Grid, also a subsidiary of Saudi Electricity Company, to build a new electricity interconnection between the two countries, we are creating the conditions for both Greece and Saudi Arabia to become critical energy and digital hubs at the crossroads of Europe, Africa, and Asia”.
Meanwhile, Dawiyat Integrated CEO, Wael Ali Al-Ghamdi, stated that “with the growing demand for connectivity regionally and globally, Dawiyat Integrated is constantly working to strengthen and expand its international network”.
“Our partnership with Grid Telecom in a joint venture to build a new cable system will significantly increase the resilience and reach of our network,” he added.
He further noted that “by taking advantage of Crete’s strategic location, the new cable system will link Saudi Arabia with Greece and the Balkans, thereby providing a new entry point to Europe”.
Kostas Agathakis, Chairman of Grid Telecom, stated that “we are constantly looking for ways to strategically expand our services to partners and customers”.
“In this context”, he continued, “our partnership with Dawiyat Integrated for the construction of a new cable system will support the implementation of an important telecommunications corridor between Greece and Saudi Arabia.”
“Furthermore, this partnership will strengthen the strategic role of Crete as a regional hub of high geopolitical value in the Eastern Mediterranean and the Balkans,” he added.
The announcement also mentioned that Grid Telecom continues to fortify its position in the Greek wholesale telecommunications market by leveraging IPTO’s expansive optical network within Greece and its neighbouring countries.
Furthermore, by expanding and interconnecting its points of presence with the proprietary optical network it is developing, Grid Telecom is establishing a new neutral open access hub in the broader Balkan and Mediterranean region.
Dawiyat Integrated stands as Saudi Arabia’s leading neutral wholesale telecommunications provider, boasting an extensive portfolio of planned international cable systems and fibre optic cable landing stations.
Finally, the announcement noted that Dawiyat’s investments in cutting-edge telecommunications infrastructure aim to support Saudi Arabia’s digital transformation and foster business growth through the provision of integrated, innovative technology solutions to both domestic and international clients.